Welcome to our dedicated page for ArcelorMittal news (Ticker: MT), a resource for investors and traders seeking the latest updates and insights on ArcelorMittal stock.
ArcelorMittal S.A., headquartered in Luxembourg City, is a Luxembourgian multinational steel manufacturing corporation established in 2006 through the merger of Arcelor and Indian-owned Mittal Steel. As one of the world's leading integrated steel and mining companies, ArcelorMittal operates across 60 countries with primary steelmaking facilities in 15 countries.
The company's operational segments include NAFTA, Brazil, Europe, ACIS (Africa, CIS, and other countries), and Mining. It derives the majority of its revenue from the Europe segment, which specializes in manufacturing and selling hot-rolled coil, cold-rolled coil, coated products, tinplate, plate, and slabs. The products cater to sectors such as automotive, general industry, and packaging. Additionally, the segment produces long products like sections, wire rods, rebar, billets, blooms, wire drawing, and tubular products. Geographically, the United States contributes significantly to its revenue.
ArcelorMittal has recently announced its fourth quarter and full year 2023 sell-side analysts' consensus figures, highlighting a calculated collective outlook based on analysts' estimates. The consensus, managed by Visible Alpha, includes the impact of the sale of the Company’s Kazakhstan operations to the Qazaqstan Investment Corporation, effective December 7, 2023. Additionally, due to revisions in the expected future cash flows of Acciaierie d'Italia (ADI), the company anticipates fully impairing its investment in ADI, reflecting in the fourth-quarter results.
Financially, ArcelorMittal reported an EBITDA of $7.6 billion for FY 2023 and a free cash flow of $2.9 billion. The net income for the same period stands at $0.9 billion, impacted by non-cash, non-recurring items like the $2.4 billion effect of the Kazakhstan operations' disposal and a $1.4 billion impairment on ADI. Despite these challenges, the company maintains a robust financial position with a net debt of $2.9 billion as of the end of 2023 and liquidity of $13.2 billion.
In terms of growth and sustainability, ArcelorMittal is advancing several strategic projects, including substantial investments in low carbon steel production and renewable energy infrastructure. The company is committed to reducing its carbon footprint through innovative processes that use less energy and emit significantly less carbon. Their XCarb® recycled and renewably produced steel is set to feature prominently in the Paris Olympics, marking a significant step in their decarbonization strategy.
ArcelorMittal's financial strength is reinforced by its share repurchase programs, which have reduced the fully diluted shares outstanding by 33% since September 2020. Furthermore, the company has a diverse investment portfolio, including significant strategic joint ventures like AMNS India and Calvert in North America.
Looking ahead, ArcelorMittal remains positive about medium to long-term steel demand, anticipating a growth in apparent steel consumption globally. The company continues to prioritize safety, having commissioned a comprehensive independent safety audit to enhance its operational protocols and culture.
ArcelorMittal is listed on stock exchanges in New York, Amsterdam, Paris, Luxembourg, and Madrid under the symbol MT.
On January 27, 2023, ArcelorMittal disclosed its fourth quarter 2022 sell-side analysts’ consensus figures. Analysts from a group of ten brokers forecast an EBITDA of $1,257 million, a net income of $358 million, and earnings per share of $0.38. These estimates were compiled via an independent tool managed by Visible Alpha, which has no affiliation or responsibility for the accuracy of the data. The company reiterated that it does not influence the forecasts made by third-party analysts. Furthermore, ArcelorMittal continues to provide updated information on its share buyback operations on its website.
ArcelorMittal announces a significant investment of $36 million in Boston Metal, marking the largest initial investment through its XCarb® Innovation Fund. This investment leads a $120 million Series C funding round for Boston Metal, which focuses on revolutionizing the steel industry with its patented Molten Oxide Electrolysis (MOE) technology. This innovative process aims to produce CO2-free molten steel efficiently. ArcelorMittal’s XCarb Fund has now backed six companies targeting decarbonization, with a total commitment of $100 million to Breakthrough Energy’s Catalyst program.
Boston Metal has closed the first round of its Series C fundraising, securing $120 million to enhance green steel production and support the construction of its commercial plant in Brazil. Notable investors include ArcelorMittal (NYSE: MT), alongside Microsoft's Climate Innovation Fund and SiteGround Capital. The funds will aid the expansion of the company's Molten Oxide Electrolysis (MOE) technology, aimed at producing zero-emission steel and high-value metals. This technology could significantly cut carbon emissions in steel production, an industry responsible for about 10% of global emissions, aligning with the industry's goal to achieve net zero by 2050.
ArcelorMittal has inaugurated a €200 million carbon capture and utilization (CCU) plant named 'Steelanol' in Ghent, Belgium, marking a first in the European steel industry. This plant will produce 80 million liters of advanced ethanol, significantly reducing carbon emissions by 125,000 tonnes annually. The Steelanol project is part of a broader strategy to achieve a 35% reduction in carbon intensity across European operations by 2030. Collaborating with key partners, ArcelorMittal aims to lead decarbonization efforts in the steel sector and contribute to a circular economy.
ArcelorMittal has announced its acquisition of Riwald Recycling, a leading ferrous scrap metal recycling company based in the Netherlands. The deal, signed on December 5, 2022, is pending regulatory approval and is expected to close by the end of January 2023. Riwald, established in 1989, processed over 330,000 tonnes of scrap metal in 2021 and operates certified recycling yards with direct port access. This acquisition marks ArcelorMittal's third metal recycling purchase in 2022, reinforcing its commitment to sustainability and reducing carbon intensity in steel production by 35% by 2030.
On December 2, 2022, ArcelorMittal announced its financial calendar for 2023. Key earnings results announcements are scheduled for: February 9, 2023 (Q4 and full year 2022), May 4, 2023 (Q1 2023), July 27, 2023 (Q2 and half year 2023), and November 9, 2023 (Q3 2023). The Annual General Meeting of Shareholders will be held on May 2, 2023. In 2021, ArcelorMittal reported revenues of $76.6 billion and crude steel production of 69.1 million metric tonnes.
On November 21, 2022, ArcelorMittal announced a successful pricing of a $1.2 billion offering of 6.550% notes due 2027 and a $1.0 billion offering of 6.800% notes due 2032, totaling approximately $2.2 billion. The proceeds will be allocated for general corporate purposes. Following the offering, commitments under a $2.2 billion bridge facility agreement will be cancelled by an amount equal to the offering excess beyond $400 million. The closing date for the offering is set for November 29, 2022, subject to customary conditions.
ArcelorMittal (MT) reported its Q3 2022 financial results, highlighting significant declines in operating income and net income due to various market challenges. Operating income fell to $1.7 billion from $4.5 billion in Q2 2022, while net income dropped to $993 million compared to $3.9 billion in the previous quarter. Steel shipments also decreased by 5.6% sequentially. Despite these challenges, the company repurchased 31 million shares in the quarter, maintaining a robust net cash position of $3.9 billion by the end of September 2022.
ArcelorMittal has invested $25 million in TerraPower through its XCarb® Innovation Fund. This investment is part of an $830 million equity raise by TerraPower, the largest among advanced nuclear companies. TerraPower, founded by Bill Gates, is developing the Natrium™ reactor, which integrates a sodium fast reactor with a molten salt energy storage system, targeting an in-service date within this decade. The XCarb® Innovation Fund aims to boost decarbonization technologies, having invested $122.5 million in five companies since its launch.
On October 31, 2022, ArcelorMittal released its third quarter 2022 consensus figures from sell-side analysts, provided by Visible Alpha. The estimates indicate an EBITDA of $2,337 million, a net income of $1,355 million, and earnings per share of $1.52. The consensus is based on contributions from 12 brokers who continuously cover the company. ArcelorMittal disclaims any responsibility for the accuracy of these forecasts, which reflect external analysts' perspectives. The Company also provides an update on its share buyback transactions, enhancing shareholder value.
FAQ
What is the current stock price of ArcelorMittal (MT)?
What is the market cap of ArcelorMittal (MT)?
What is ArcelorMittal's primary business?
Where is ArcelorMittal headquartered?
What are ArcelorMittal's main operational segments?
What was ArcelorMittal's EBITDA for FY 2023?
What recent strategic initiatives has ArcelorMittal undertaken?
What is the significance of the Kazakhstan operations sale to ArcelorMittal?
How is ArcelorMittal addressing safety in its operations?
What is ArcelorMittal’s stance on sustainability?
Where is ArcelorMittal listed?
What are some key financial metrics for ArcelorMittal at the end of 2023?
